Typically, a "gray divorce" is one in which you and your spouse are both over 50. Really, though, it refers to any divorce that happens later in life.
As a single parent with shared custody of your child, you will relish the opportunity to have quality time with your child or childrenl; however, you will likely feel constrained by the lack of freedom that co-parenting with an ex-partner creates. However, you cannot let your shared custody situation from pursuing a better life for you and your children.
Going through a divorce can create a whole host of different scenarios for families. It can involve shared custody scenarios, where children effectively live between two homes, but it can also mean that blended families are created.